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Software solution

Square Checking

Keep Square sales moving into a business checking account built for everyday cash flow

Square Checking gives a U.S. Square seller a business checking balance connected to its Square sales, with funds from Square payment processing generally available soon after a payment is processed.

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Built for your day-to-day

How it fits your business

The account has no monthly, minimum-balance, overdraft, or Square ATM fees, and includes account and routing numbers for ACH activity, a Square Debit Card, recurring transfers, bill payments, printable checks, mobile check deposits, and cash deposits at participating retailers. It is a banking service provided by Sutton Bank rather than a bank operated by Block. Opening is subject to identity and business verification, approval, and eligibility rules, so it should complement—not automatically replace—an account used for services Square does not support, such as inbound wire transfers.

Key capabilities

What you can do

  • Access Square sales promptly

    Funds generated through Square payment processing are generally available in the Square Checking balance immediately after processing, although technical issues and other availability rules can affect timing.

  • Move money with account and routing numbers

    Use the account and routing numbers for eligible inbound ACH deposits and no-fee bill debits, or send funds to a linked external bank on the next business day, instantly, or on a recurring daily, weekly, or monthly schedule.

  • Spend with a business debit card

    The Square Debit Card can be used wherever Mastercard debit is accepted, including digital wallets such as Apple Pay and Google Pay. Square says up to five debit cards can be shared with a team.

  • Handle vendor payments and deposits

    The account supports vendor payments by debit card, ACH, Bill Pay, or printable check, plus mobile check deposits and cash deposits at participating retail locations using a barcode in the Square POS app.

  • Keep recurring transfers organized

    A linked external bank account can receive one active recurring transfer schedule, set daily, weekly, or monthly in Square Dashboard. Transfers generally arrive externally in one to two business days.

Explore the details

Product details

Eligibility and setup

To apply, a business must first register with Square and open Square Checking from the Banking area of Square Point of Sale or Dashboard. Square's terms require an applicant to agree to the applicable Square terms, be either a U.S. citizen or legal resident with a U.S. tax ID operating as a sole proprietor, or a U.S. business entity with a U.S. employer identification number. The applicant must meet the applicable age rule, provide identity and business information—including name, address, date of birth, SSN, legal entity, EIN, and beneficial-owner information when requested—and receive Square's approval. Only full-access team members can manage Banking information.

Funding and transfer details

Square Checking can receive Square payment-processing deposits, ACH/direct deposits, debit-card add-money deposits, mobile check deposits, and cash deposits at participating retailers. Square says add-money deposits are generally available within 15 minutes, while its support article says eligible inbound deposits may arrive up to two days early but can sometimes take two to three business days. Cash deposits require the iOS or Android Square POS app, have no Square fee at participating retailers, and have retailer-specific limits. Standard external transfers are free and generally arrive the next business day; instant or same-day external transfers cost 1.95% of the amount and require a linked bank account or debit card.

Limits and operational caveats

The terms list direct-deposit limits of $2,000–$50,000 per day and add-money limits of $500–$2,000 per day, depending on account age. Card limits include $10,000 per transaction, $25,000 per day, $50,000 per week, and $150,000 per month; ATM/POS withdrawal limits vary by account age and Square history. Square does not charge an ATM withdrawal fee, but there is no in-network ATM program and an ATM operator may charge. The account does not allow overdrafts, does not pay interest, and does not accept inbound wire transfers or mailed cash.

Plan details

Pricing, fees & eligibility

Explore pricing

Square Checking has no recurring account fee or minimum balance. Square's standard next-business-day transfer is free; instant and same-day transfers to an external bank cost 1.95% per transfer. Square does not charge an ATM fee, but third-party ATM operator fees may apply.

Monthly software (USD)$0

Fees & eligibility

  • Monthly account fee

    No monthly fee for the Square Checking account.

    $0
  • Minimum balance/opening deposit

    No opening deposit or ongoing minimum balance requirement.

    $0
  • Standard external transfer

    Next-business-day transfer to a linked external bank account.

    $0
  • Instant or same-day external transfer

    Requires a linked bank account or debit card; minimums, maximums, eligibility, and bank availability rules apply.

    1.95% of transfer amount
  • ATM withdrawal

    Square has no in-network ATM program; a third-party ATM operator may charge its own fee.

    $0 charged by Square
  • Foreign transaction

    Use outside the U.S. may be limited and currency fluctuations may apply.

    $0 charged by Square
  • Cash deposit at participating retailer

    Participating retailer limits and terms apply; the barcode is generated in Square POS.

    $0 charged by Square

Requirements

  • An active Square seller registration and access to Square Point of Sale or Square Dashboard.
  • U.S. sole proprietor meeting Square's citizenship/residency and tax-ID rules, or a U.S. business entity with a U.S. EIN.
  • Applicable age, identity, business, and beneficial-owner verification; approval is not automatic.
  • A compatible iOS or Android device is required for cash deposits; no Square hardware purchase is required for the checking account itself.

Square is a financial services platform, not a bank. Square Checking is provided by Sutton Bank, Member FDIC, and the Square Debit Card is issued by Sutton Bank under a Mastercard license.

Up to $250,000 may be covered by FDIC pass-through insurance through Sutton Bank, subject to accurate records, FDIC conditions, and aggregation of the account holder's Sutton Bank deposits by ownership category.

Square Checking balances do not earn interest.

Funds can be delayed by technical issues, ACH timing, account-age limits, fraud review, or other availability rules; instant payment-processing availability is not a guarantee for every deposit.

Instant and same-day external transfer pricing is distinct from Square Checking's no-fee account and no-fee standard transfer; eligible balances, linked methods, and transfer limits apply.

Cash-deposit limits vary by participating retailer. Cash deposits require the Square POS app and are not available through Square Dashboard.

The terms state that Square will not inbound wire transfers or cash mailed or otherwise delivered to it.

Questions

Frequently asked questions

Is Square Checking free?

The account has no monthly, maintenance, minimum-balance, opening-deposit, overdraft, card-use, replacement-card, or Square ATM fee. Third-party ATM operators can charge, and Square charges 1.95% for eligible instant or same-day transfers to an external bank.

Who can open Square Checking?

A person must register with Square, meet the applicable age rule, and be a U.S. citizen or legal resident with a U.S. tax ID operating as a sole proprietor, or represent a U.S. business entity with a U.S. EIN. Square requires identity and business verification and may approve or decline an application.

Do I need Square hardware to use Square Checking?

No Square payment hardware purchase is listed as a requirement for the account. The account is opened and managed through Square Point of Sale or Dashboard. A compatible iOS or Android device is specifically required for cash deposits, and the Square POS app is used for that workflow.

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